Shares of Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) shot up 7.2% during trading on Thursday . The stock traded as high as $28.02 and last traded at $27.97. 1,232,642 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 3,756,609 shares. The stock had previously closed at $26.08.
Analyst Upgrades and Downgrades
GLXY has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Rosenblatt Securities decreased their target price on shares of Galaxy Digital from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler raised their target price on shares of Galaxy Digital from $34.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Canaccord Genuity Group raised their target price on shares of Galaxy Digital from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Benchmark raised their target price on shares of Galaxy Digital from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Galaxy Digital has an average rating of "Buy" and a consensus target price of $35.63.
Get Our Latest Analysis on GLXY
Galaxy Digital Price Performance
The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $25.51.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to analysts' expectations of $13.11 billion.
Insider Buying and Selling at Galaxy Digital
In other Galaxy Digital news, COO Erin Elizabeth Brown sold 350,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total value of $9,443,000.00. Following the transaction, the chief operating officer directly owned 198,088 shares of the company's stock, valued at $5,344,414.24. This trade represents a 63.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Tavoso sold 50,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $28.28, for a total value of $1,414,000.00. Following the completion of the transaction, the director directly owned 400,000 shares in the company, valued at $11,312,000. This trade represents a 11.11% decrease in their ownership of the stock. The disclosure for this sale can be found here.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC purchased a new stake in shares of Galaxy Digital during the second quarter worth about $26,000. Manchester Capital Management LLC purchased a new stake in shares of Galaxy Digital during the second quarter worth about $32,000. Centerpoint Advisors LLC purchased a new stake in shares of Galaxy Digital during the second quarter worth about $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Galaxy Digital during the second quarter worth about $34,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Galaxy Digital during the second quarter worth about $37,000.
About Galaxy Digital
(
Get Free Report)
Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.
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